Month: September 2008

Cash Deposit Machines at Standard Chartered Banks

The Standard Chartered Bank has intalled Cash Deposit Machines (CDMs) at some of its branches. The machines allows a user to deposit cash directly into their account or pay their credit card payment without any additional charge. You can also deposit cheques into your account. The proceeds of the cheque will be credited into your account after it is cleared.

Lack of maintenance has made CDMs almost unreliable. The machiens frequently go out of order at odd hours and people face a lot of difficulties. If the Bank has to keep CDMs then it must maintain it regularly. Machines must not be unreliable.

The Standard Chartered Bank has intalled Cash Deposit Machines (CDMs) at some of its branches. The machines allows a user to deposit cash directly into their account or pay their credit card payment without any additional charge. You can also deposit cheques into your account. The proceeds of the cheque will be credited into your account after it is cleared.

Lack of maintenance has made CDMs almost unreliable. The machiens frequently go out of order at odd hours and people face a lot of difficulties. If the Bank has to keep CDMs then it must maintain it regularly. Machines must not be unreliable.

Risk Management in Islamic Banking

Islamic Banking is growing enormously in the country and it is hoped that it will grow more in the coming days as more and more banks are starting launching islamic banking products to attract customers. A seminar was organized recently by the State Bank of Pakistan on Risk Management Framework for Islamic Banking Institutions.

Officers from State Bank and Islamic Banking industry attended the seminar and discussed Risk Management Framework rolled out by the State Bank recently on the basis of standards issued by the Islamic Financial Services.

Islamic Banking is growing enormously in the country and it is hoped that it will grow more in the coming days as more and more banks are starting launching islamic banking products to attract customers. A seminar was organized recently by the State Bank of Pakistan on Risk Management Framework for Islamic Banking Institutions.

Officers from State Bank and Islamic Banking industry attended the seminar and discussed Risk Management Framework rolled out by the State Bank recently on the basis of standards issued by the Islamic Financial Services.

Halmore Power Generation Non-Recourse Project Finace Facility

Halmore Power Generation Company Ltd. has obtained a non-recourse project finance facility worth Rs. 12,300,000,000. The financial advisors and lead arranger for the facility are the United Bank, Allied Bank and Askari Bank. Arif Habib Bank is the co-arranger. The other participating banks and financial institutions are Pak China Investment Company Limited, Bank Al-Habib Ltd and Bank of Khyber. Allied Bank will act as the agent bank.

Halmore Power Generation Company Ltd is an IPP under Power Policy 2002 with a gross capacity of 225 MW.

Halmore Power Generation Company Ltd. has obtained a non-recourse project finance facility worth Rs. 12,300,000,000. The financial advisors and lead arranger for the facility are the United Bank, Allied Bank and Askari Bank. Arif Habib Bank is the co-arranger. The other participating banks and financial institutions are Pak China Investment Company Limited, Bank Al-Habib Ltd and Bank of Khyber. Allied Bank will act as the agent bank.

Halmore Power Generation Company Ltd is an IPP under Power Policy 2002 with a gross capacity of 225 MW.

United Bank Ltd. and EFU sign Bancassurance partnership

The United Bank Ltd. and EFU, a leading insurance company in Pakistan, have entered into a Strategic Alliance for bancassurance. Under this agreement the United Bank will offer various insurance products of EFU to its expanding customer base.

Selling insurance products through commercial banks is a rather new phenomenon in the country. A number of banks are already selling various insurance products to their existing customers. Insurance companies are making a lot of money by products such as credit cover premium, credit shield, credit protector, secure wallet and ATM insurance etc.

My advice to the customer is to think twice before getting any insurance product. Most of these products have been designed to benefit the insurance companies and customers end up paying extra money for nothing.

The United Bank Ltd. and EFU, a leading insurance company in Pakistan, have entered into a Strategic Alliance for bancassurance. Under this agreement the United Bank will offer various insurance products of EFU to its expanding customer base.

Selling insurance products through commercial banks is a rather new phenomenon in the country. A number of banks are already selling various insurance products to their existing customers. Insurance companies are making a lot of money by products such as credit cover premium, credit shield, credit protector, secure wallet and ATM insurance etc.

My advice to the customer is to think twice before getting any insurance product. Most of these products have been designed to benefit the insurance companies and customers end up paying extra money for nothing.